How to Get Equipment for a New Hobby – On the Cheap!

Ah, the excitement of starting a new hobby! You begin thinking of how awesome this’ll be, how much fun you’ll have, how relaxed you’ll become – better, happier living! So you forget all impulse control and run out to a store (or buy online) and get yourself all the equipment you’ll need for this amazing new endeavor. After all, it’s worth the investment, and you deserve the best!

Fast forward a couple of months. If you’re like me, 8 out of 10 times the excitement has subsided, and the equipment you spent hundreds (or thousands) of dollars on is sitting in a corner, gathering dust. Your wallet is lighter, your house more cluttered.

How to Get Equipment for a New Hobby – On the Cheap!

Rent the Equipment for Your New Pastime

If you can, start by renting, rather than buying, the equipment for your new pastime. In the world of sports, it’s easy, for example, to rent things like paddleboards, skis, and bicycles. You may even find lesson-and-rental specials directly with the provider or on sites like Groupon.

And yeah, it quickly becomes more expensive to rent instead of buying. But for those first few times, when you’re trying something out, I think it’s better to rent. Especially since, if you’re at all like me, you won’t really take up around 80-90% of the new hobbies you try out.

But let’s get more specific, with the paddleboarding example. Here in Miami, Groupon will get you a one-hour paddleboard rental for around $19 (regular price is $35) (factor in Ebates, discount codes, and whatnot, and the price is even less):

For a new paddleboard, a quick search on Walmart shows a price range that seems to go from around $165 to $280 (and probably more):

So, even if you pay full price for a rental, you’d have to go boarding about several times to even start approaching the cost of buying your own board. I think by the third or fourth time, you’ll have a pretty good idea of whether you’re still excited about the sport and want to pursue it. (And you won’t have spent time, effort, and resources on things like cleaning and storing a paddleboard).

What I’m saying is that, since the vast majority of the time you’ll wind up dropping the new hobby (meaning you’ll try different things until you find one you really like and stick with), it’s far better to spend a few bucks on trying it out, than to spend hundreds on expensive equipment you most likely won’t use.

Buy Used

Let’s say renting isn’t really feasible, such as if you want to start a home workout routine (renting a dumbbell doesn’t really make much sense). Well, in that case, try to buy used or open-box. Obviously, you’ll save money.

(In my case, when shopping for exercise equipment, I wanted to buy used anti-friction socks for running -new ones can cost $15 per pair (!)- but my wife Lily and mom made so much fun of me that I didn’t. I still think it’s a good idea!)

Buy Entry-Level Stuff

This is a biggie that I myself have had impulse control issues with. I mean, when you’re really excited about a new endeavor, you can be tempted to buy the best on the market. You can even justify it to yourself: “if I buy the best golf clubs and play better, I’ll like it more and stick with it”!

The problem is that the best can be expensive, as the paddleboard example shows (where the highest-end paddleboards seem to cost over $1,000). The same goes for things like skis and bicycles, where you can spend several thousand on the high end.

What I’ve discovered is that you won’t really get the benefit of the most awesome equipment if your skills are beginner-level. Do you really need a $5,000 bike with a whole bunch of gears and advanced brakes if you’re just starting out? I’d say no. If you wind up becoming a competitive racer and will take on the Tour de France, that’s another story. But, for most of us, a decent, entry-level bike will do.

How to Find Good Beginner-Level Equipment

To find great equipment at the entry level, one good, “scientific” way is to find reviews (see my in-depth guide on review-hunting). You can also ask people that are involved in the activity, but I’d ask more than one person before buying, since opinions can vary.

Generally, what I think you’d be looking for would be equipment that serves the purpose you need it for, but that’s at the lower end of the price range and has good reviews.

Buy the Minimum

For lots of hobbies, you can get just a minimum of stuff to start. An example would be a home gym workout, where a few resistance bands and a yoga mat can be enough to start basic strength training. So, you can probably begin with less than $100 of exercise equipment, especially if you do your aerobics outside.

This is, I think, a much better path than rushing out to spend thousands on a loaded home gym, especially if you haven’t been doing it for months (or years) and know that you’ll stick with it over the long term. In fact, is there a more classic example of the aspirational impulse buy than the home gym workout machine that winds up as a clothes hanger?

Wait For Your Impulse Control to Return

This is one of the simplest (and most effective) life hacks that you can use on yourself. When you get all excited and your impulse control starts to slip, just pause, and sleep on it. Take a few days, or even a week. If you still want to start your new hobby after this cooling-off period, then start investing in it, using the tips outlined above.

Summing It Up

By all means take up a new pastime – I think it’s good for you! But also protect your treasury by avoiding the mistake of immediately going out and buying thousands of dollars’ worth of equipment. Keep that cash by:

Comments

It’s good advice. We get hyped up for a new hobby. Spend the wad and then put the stuff in the basement or garage when we lose interest. Best to save money on the front end and then amp it up if it becomes a continuing interest or even a passion. Tom

I try to visualize the time and energy I plan to spend on a new hobby before investing anything. I’ve bought gym equipment in the past and had to end up selling it on Craigslist because I didn’t like working out at home. I do still use my push up bar from 10 years ago; so worth the $20 something I paid 🙂

RM, I like the specific steps you outline! I think a lot of us have buyers remorse at some point, so being able to rely on a process can really help protect ourselves from ourselves! 🙂 I think buying used a fantastic way to go.

These are all great tips to save money. I know my friends have asked me to go snowboarding many times and they asked me to start buying the equipment, but I can’t see myself investing in that especially when they only go like once a year (or if ever)? Renting in this case is the better option but still pricey. I’m thinking it’s likely because I’m not really excited about snowboarding. I tried it once and it wasn’t for me. Haha I’m boring but I’d rather go ice skating!! Very frugal thing to do and relaxing as well. I get overwhelmed by the idea of snowboarding

Wonderful advice, Miguel! I’ve been wanting a smith machine of late, but I know I can hold off until something pops up on Craigslist (or my wife tells me to shutup and just stick to the kettle bells we currently have.)

Thanks! Man, I love Smith machines! After wanting one for years, I finally got one last year when we made our home gym. For chest, I also really like those rotating push-up handles; I find they work really well.

Great tips. I definitely like the idea of buying entry level stuff if you’re going to buy, because it can help define your strategy if you do end up sticking with it. For example, I wanted to start exercising more. I bought an entry level stationary bike. I really enjoyed it and have stuck with it, but having the bike actually gave me the realization that I’d prefer joining a gym instead (only $10 per month). WIthout that first step, I wouldn’t have gotten to where I’m at, and by purchasing a cheaper bike, I didn’t sink a ton of money into it in order to come to my ultimate landing spot.

All good points. I like buying used when trying new hobbies out…like when I first started golfing. That said, I did buy a brand new home gym and after spending a couple hours installing it and several months later, it’s still as good as new. Now I wonder if it was worth spending all that money if I never get the time to use the darn thing!

We’ll show you how to be savvier & upgrade your lifestyle.

Subscribe for free.

Archives

Archives

Categories

Categories

Meet the Rich Miser

Hey there! I'm Miguel, a lawyer and entrepreneur from Miami. When I'm not practicing law, I look for ways to live it up for the least amount of money possible. I also love nights out on the town, skiing, and being a news junkie. READ MORE